Quick Facts

Standard Deductions 2019 2020 2021
 Joint or Qualifying Widow(er) $24,000 $24,800 $25,100
Single $12,000 $12,400 $12,550
Head of Household $18,350 $18,650 $18,800
Married Filing Separately $12,200 $12,400 $12,550
Additional for Elderly/Blind Married $1,300 $1,300 $1,350
Additional for Elderly/Blind Unmarried $1,650 $1,650 $1,700
Taxpayer Claimed as Dependent (with only unearned income) $1,100 $1,100 $1,100
Personal/Dependent Exemption $0 $0 $0
Unearned Income without Kiddie Tax $2,200 $2,200 $2,200
Beginning of Personal Exemption and Itemized Deductions Phaseout Range-Based on AGI
Joint or Surviving Spouse NA NA NA
Single NA NA NA
Head of household NA NA
   
FICA/SE Tax Information
FICA/SE Taxable Maximum Earnings $132,900 $137,700 $142,800
FICA Tax Rate (Employee) 6.2% 6.2% 6.2%
SE Tax Rate 12.4% 12.4% 12.4%
Medicare/SE Tax Information
Taxable Maximum Earnings Unlimited Unlimited Unlimited
Medicare Tax Rate (Employee) 1.45% 1.45% 1.45%
SE Tax Rate 2.90% 2.90% 2.90%
Auto Standard Mileage Allowances
Business $0.580 $0.575 $0.56
Charity Work $0.14 $0.14 $0.14
Medical/Moving $0.20 $0.17 $0.16
Earnings Ceiling for Social Security
Below Age 65 $17,640 $18,240 $18,960
Full Retirement Age Unlimited Unlimited Unlimited
   
Federal Minimum Wage $7.25 $7.25 $7.25
 
Ohio Minimum Wage $8.55 $8.70 $8.80
   
IRS Section 179 Expense Election $1,020,000 $1,040,000 $1,050,000
IRA Contribution Limit $6,000 $6,000 $6,000
Age 50 Catch-up Contribution $1,000 $1,000 $1,000
401K, 403(b), 457 Deferral Limits $19,000 $19,500 $19,500
Age 50 Catch-up Contribution $6,000 $6,500 $6,500
Health Savings Accounts
   Contribution (Deduction) Maximum
Self-only Coverage $3,500 $3,550 $3,600
Family Coverage $7,000 $7,100 $7,200
Age 55 Catch-up $1,000 $1,000 $1,000
Standard Deductions 2018 2019 2020
 Joint or Qualifying Widow(er) $24,000 $24,000 $24,800
Single $12,000 $12,000 $12,400
Head of Household $18,000 $18,350 $18,650
Married Filing Separately $12,000 $12,200 $12,400
Additional for Elderly/Blind Married $1,300 $1,300 $1,300
Additional for Elderly/Blind Unmarried $1,600 $1,650 $1,650
Taxpayer Claimed as Dependent (with only unearned income) $1,050 $1,100 $1,100
Personal/Dependent Exemption $4,150 $0 $0
Unearned Income without Kiddie Tax $2,100 $2,200 $2,200
Beginning of Personal Exemption and Itemized Deductions Phaseout Range-Based on AGI
Joint or Surviving Spouse $320,000 NA NA
Single $266,700 NA NA
Head of household $293,350 NA
Married Filing Separately $160,000 NA
   
FICA/SE Tax Information
FICA/SE Taxable Maximum Earnings $128,400 $132,900 $137,700
FICA Tax Rate (Employee) 6.2% 6.2% 6.2%
SE Tax Rate 12.4% 12.4% 12.4%
Medicare/SE Tax Information
Taxable Maximum Earnings Unlimited Unlimited Unlimited
Medicare Tax Rate (Employee) 1.45% 1.45% 1.45%
SE Tax Rate 2.9% 2.90% 2.90%
Auto Standard Mileage Allowances
Business $0.545 $0.580 $0.575
Charity Work $0.14 $0.14 $0.14
Medical/Moving $0.18 $0.20 $0.18
Earnings Ceiling for Social Security
Below Age 65 $17,040 $17,640 $18,240
Full Retirement Age Unlimited Unlimited Unlimited
   
Federal Minimum Wage $7.25 $7.25 $7.25
 
Ohio Minimum Wage $8.30 $8.55 $8.70
   
IRS Section 179 Expense Election $1,000,000 $1,020,000 $1,040,000
IRA Contribution Limit $5,500 $6,000 $6,000
Age 50 Catch-up Contribution $1,000 $1,000 $1,000
401K, 403(b), 457 Deferral Limits $18,500 $19,000 $19,500
Age 50 Catch-up Contribution $6,000 $6,000 $6,500
Health Savings Accounts
   Contribution (Deduction) Maximum
Self-only Coverage $3,450 $3,500 $3,550
Family Coverage $6,900 $7,000 $7,100
Age 55 Catch-up $1,000 $1,000 $1,000

*From tax return due date or filing date, plus any amended returns, whichever is later